The Edo State High Court in Benin City has sentenced Ifeoma Joy Bogamhe, a businesswoman and proprietor of Zemehse Global Enterprise, to nine months in prison for a ₦20 million mortgage fraud.
Bogamhe was found guilty of re-mortgaging the same property to secure loans totaling ₦30 million without the knowledge or consent of the original lender.
She was arraigned in June 2025 by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on a two-count amended charge of fraudulent disposition of mortgage property. Bogamhe pleaded not guilty, prompting full trial proceedings.
During the trial, prosecution counsel Salihu Ahmed presented three witnesses, including two EFCC investigating officers, Muhammed Abubakar and Sani Adamu. Nine documentary exhibits were also tendered and admitted as evidence by the court.
Evidence revealed that Bogamhe initially used her property as collateral to obtain a ₦20 million loan from Standard Life Organization. Without disclosing the prior mortgage, she later re-mortgaged the same property to secure an additional ₦10 million loan from Wema Bank.
The case came to light when Bogamhe defaulted on the repayment of the Standard Life loan. Upon attempting to enforce its mortgage, the lender discovered that Wema Bank also had a legal claim on the property, having accepted it as collateral for another loan.
The first charge read: “That you, Ifeoma Joy Bogamhe, being the proprietor of Zemehse Global Enterprise on or about 16 March 2023, in Edo State, within the jurisdiction of this Honourable Court, with intent to defraud, knowingly and willfully, without the consent of the mortgagee (Standard Life Organization) and without disclosing the existence of a prior mortgage agreement, re-mortgaged the same property to Wema Bank, thereby committing an offence contrary to Section 299 of the Criminal Law of Edo State, 2022.”
The second charge read: “That you, Ifeoma Joy Bogamhe, being the proprietor of Zemehse Global Enterprise on or about 16 March 2023, in Edo State, within the jurisdiction of this Honourable Court, with intent to defraud, obtained a loan of ₦10 million from Wema Bank under the pretense that repayment was secured by a property claimed to belong to you and free from all encumbrances, a pretense you knew was false, thereby committing an offence contrary to Section 1(1)(b) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, punishable under Section 1(3) of the same Act.”
Justice W.I. Aziegbemhin delivered the conviction on February 27, 2026, but reserved sentencing until Friday, March 6, 2026.
At the resumed hearing, the judge sentenced Bogamhe to nine months imprisonment on the first count of fraudulent disposition of mortgage property. She was also ordered to restitute the complainant for the money unlawfully obtained.
However, Bogamhe was discharged and acquitted on the second count relating to obtaining money under false pretences.
